Warren Buffett is giving away his money and stock! In this Fortune interview he goes into a bit of detail about his decision. 80% of his money, which comes in at 80% of 37 billion USD at the time of this writing, will go to the Bill and Melinda Gates Foundation, which seems to be moving in the direction of one of the richest foundations out there.
What about his children you ask? “I still believe in the philosophy – FORTUNE quoted me saying this 20 years ago – that a very rich person should leave his kids enough to do anything but not enough to do nothing.” Very wise idea I have to say.
Update: here are the letters of Warren Buffet in relation to his donations. The interesting thing is that each of his kids has a foundation who will be getting $50 million a year in donations, roughly. The cool thing is that this really makes his above quote true already, because the Tax Office will make sure that they are still doing charitable work and the pledge by Buffett only holds so long as they are charities. With that alone, the kids will survive very well but they will quasi have to do good. Very cool.

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